L&T Q1 net falls more than 12 percent

Larsen-and-ToubroMumbai, July 22 : Enginnering giant Larsen & Toubro (L&T) Monday reported a 12.5 percent year-on-year fall in net profit at Rs. 756 crore for the first quarter ended June 30, on account of job mix, lower margin accruals and lower other income.

The company toted a profit of Rs. 864 crore in the corresponding quarter a year ago.

“The company’s power segment achieved customer revenue of Rs. 1,275 crore for the quarter ended June 30, 2013, registering a year-on-year decline of 44 percent due to lower order book,” L&T said in a statement.

Net sales at Rs. 12,555 crore grew five percent over the same quarter of the previous fiscal.

"The Company successfully garnered fresh orders worth Rs. 25,159 crore during the quarter April-June 2013, recording a healthy y-o-y growth of 28 percent," L&T said.

"International order inflow at Rs. 3,617 crore grew 2.28 times and constituted 14 percent of the total order inflow for the quarter April-June 2013," the statement added.(IANS)